On February 4th 1953 applied for a State Charter Credit Union under the Name of Tex-Mex Railway Employees Credit Union. Original 10 shareholders all Railway Employees were:

W.E. Chenney H.M. Lacour
Joe E. Garcia Jr.Leopoldo A. Almaguer
J.P. DevineM. Conring
J.M. Benavides JrManuel G. Gutierrez
H.L. TealW.A. Rivas

On March 9, 1953 the charter was granted.  The Credit Union was established so the employees and their families have a place to save money and control their finances. 

The first meeting was held on March 26th 1953 and 7 board members were elected:

R.J. Notzon   J.M. Benavides, Jr.
W.E. Chenney
H.W. Newton
J.R. Gonzalez
Antonio Ramirez
A.G. Garcia.

The Credit Union was located in the back storeroom of the Tex Mex Railway offices on Corpus Christi Street.